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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Technology Entrepreneurship Technology Entrepreneurship is a major driver of our economy and is growing in San Antonio 2CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! So Let’s Play Spot the Entrepreneur Slide 3CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 4 OK, That was easy – let’s make it a little harder CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 6 Don’t get confused Between inventors and entrepreneurs Inventors create new technologies (ideas) Entrepreneurs create new business (money) Which one has the better ROI? CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 7 The former have these CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 8 The latter have these CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Do You Have The Courage? CITE BootCamp January 2011Slide 9

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! 10 The Growth “Rule of Ten” Who is my first customer –Why will they pay me for my product/service? –How will I secure the deal? –What resources do I need to complete the transaction? Each growth by a factor of ten requires the entrepreneur to evaluate how they will do business Without this vision forget going into business Each growth by a factor of ten requires the entrepreneur to evaluate how they will do business Without this vision forget going into business Who are my next 10 customers Who are my next 100 customers Who are my next 1 000 customers Who are my next 10 000 customers CITE BootCamp January 2011

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! In the field of observation, chance only favors minds which are prepared. Louis Pasteur In the field of observation, chance only favors minds which are prepared. Louis Pasteur How can an entrepreneur identify and select a valuable opportunity? The choice of an opportunity and the decision to act is a critical juncture in the life of an entrepreneur. With the decision to act, the entrepreneur prepares a business summary for the venture that is used to test the new venture with potential investors, employees, and customers. Summary

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Six steps to Acting as a Technology Entrepreneur

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Types of Opportunity : Opportunity Pull: the size of the opportunity attracts opportunity seekers to attempting to exploit it. Example: A drug to mitigate the effect of Alzheimer’s disease. Types of Opportunity : Opportunity Pull: the size of the opportunity attracts opportunity seekers to attempting to exploit it. Example: A drug to mitigate the effect of Alzheimer’s disease. Opportunity Pull

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Types of Opportunity : Capability Push: a new technology or capability causes a search for new applications. Example: Digital Television Types of Opportunity : Capability Push: a new technology or capability causes a search for new applications. Example: Digital Television Opportunity Push

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Nine Categories of Opportunity: 1. Increasing the value of a product or a service 2. New applications of existing means or technologies 3. Creating mass markets 4. Customization for individuals 5. Increasing reach 6. Managing the supply chain 7. Convergence of change 8. Process innovation 9. Increasing the scale of the firm 9 Types of Opportunity

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! Characteristics of Entrepreneurial Teams Positive attitudes towards independence, achievement, and innovation Acceptance of risk and demanding work effort Capabilities matching the needs of the venture Willing to make the commitment required Passionate about the opportunity Characteristics of Entrepreneurial Teams Positive attitudes towards independence, achievement, and innovation Acceptance of risk and demanding work effort Capabilities matching the needs of the venture Willing to make the commitment required Passionate about the opportunity Resources Capable of securing access to the human, financial, and physical resources required by the opportunity Characteristics of the Context Timeliness Favorable industry conditions Future conditions appear favorable Green Light for an Opportunity Characteristics of the Opportunity Novelty of the product Potential for sustainable long- term success Potential for good return on investment Potential for a growing market Good risk-versus-reward balance Customers are known and responsive

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UTSA Colleges of Business and Engineering TAKE YOUR TECHNOLOGY TO THE LIMIT! TIME TO GET STARTED CITE BootCamp January 2011Slide 20 UTSA Center for Innovation and Technology Entrepreneurship (CITE)